23/2011 Judicial Companies Misc. U.B.L V/S (Petitioner) V/S M/s Pak Rock Oil Trading Corporation (Respondent)
Bench: Hon'ble Chief Justice Mr. Justice Muhammad Shafi Siddiqui(Author)
23/2011 Judicial Companies Misc. U.B.L V/S (Petitioner) V/S M/s Pak Rock Oil Trading Corporation (Respondent) Sindh High Court
Bench: Hon'ble Chief Justice Mr. Justice Muhammad Shafi Siddiqui(Author) Order Date: 21-JUN-16
As regards the prayer clause (d) to the effect that the action be taken against the directors of the respondent company under section 412, 413 and 414 of the Companies Ordinance, 1984, learned counsel for the petitioner has not forcefully argued on the subject; nor the provisions of Section 305, 306 provides any relief of such nature as mentioned in Para d of the prayer clause. Perusal of the ibid sections would reveal that such an action can be taken by the Court only on an application of the Official Liquidator in the course/process of winding up of the company, which process is yet to commence and such recourse would still be available for petitioner.